Mortgage Loan
- Sailent Features
- Purpose
- Eligibility
- Loan Amount
- Repayment
- Security
- Valuation of properties
Sailent Features
Sailent Features
- Open plot shall not be considered
- Loan amount should not be used for speculation purpose.
- Property to be situated at Hobli, Taluka or Dist HQ
Purpose
Purpose
- For meeting genuine needs like Marriage, Education & Hospital Expenses.
Eligibility
Eligibility
- Salaried class, businessmen, professionals, and others with regular income which shall be ascertainable from income tax returns (income should be evidenced by 3 years Income Tax Assessment Orders i.e., ITAO).
Loan Amount
Loan Amount
- 50 % of the Forced distress value of the property as assessed by Panel Valuer. Or
- Maximum of Rs.500.00 lakhs, whichever is less
(25% NTH for salaried /Non-salaried class with a minimum of Rs. 20,000/-pm)
Margin
Repayment
Security
Security
- Collateral security of mortgage of House/commercial building.
Valuation of properties
Valuation of properties
- Upto Rs.100.00 lakh – Property to be valued by One Panel Valuer.
- More than Rs.100.00 lakh - Property to be valued by two Panel valuers.